Global Automotive Turbocharger Market to Cross USD 31.5 MN By 2025
Posted On September 06, 2019
According to Value Market Research, the Global Automotive Turbocharger Market was valued USD 17.4 MN (by revenue) in 2018 and is projected to reach USD 31.5 MN by 2025 with a CAGR of 9% between 2018 and 2025. Rising demand for fuel-efficient vehicle coupled with the advent of strict governmental norms subjected to environmental concerns is predominantly fueling the market growth. Growing demand for an agricultural vehicle such as tractor and advancement in the automotive turbocharger is also anticipated to propel the market growth. Moreover, the growing demand for sports and racing vehicle along with the increasing need for downsizing the engine in the vehicle is further expected to boost the market growth.
An automotive turbocharger is used in a vehicle to improve the performance of the small engine and is commonly installed in diesel vehicles. It helps to reduce the emission and enhance the fuel economy by improving engine efficiency in terms of power and output. Moreover, it also reduces the heating of engine chamber because it has less RPM (Revolutions per Minute) of the turbine and increases the engine power by pumping more air which facilitates the ease of combustion.
The report “Global Automotive Turbocharger Market Report By Vehicle Type (Heavy Commercial Vehicle (HCV), Light Commercial Vehicle (LCV) And Passenger Vehicle), By Technology (Twin Turbo, Variable Geometry Technology (VGT) And Wastegate Technology), By Fuel Type (Gasoline And Diesel), By End-User (OEMs And Aftermarket) And By Regions - Industry Trends, Size, Share, Growth, Estimation, And Forecast, 2018-2025” entails current and future market scenario with respect to the important market facet.
The market segmentation includes vehicle type, technology, fuel type, end-user, and region. Vehicle type encompasses heavy commercial vehicle, light commercial vehicle, and passenger vehicle. Out of which, heavy commercial vehicle held the dominant position and is likely to maintain its dominance over the forecast period. The technology incorporates twin turbo, variable geometry technology (VGT) and waste gate technology. Variable geometry technology (VGT) held the leading position owing to its improved efficiency at higher speeds and primarily developed for a diesel engine. Fuel type consists of gasoline and diesel. Gasoline automotive turbocharger is leading the segment owing to its higher RPM advantages in passenger vehicles and high performance by downsizing the engines which are obtained through gasoline engine. End-user comprises of OEMs and aftermarket. OEM segment holds the largest share and this can be attributed to the rising number of factory-installed systems around the globe. Regional segmentation covers North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia-Pacific is ruling the overall market owing to the booming automotive industry coupled with the advent of strict emission rules and regulation which is expected to raise the demand for the automotive turbocharger.
The Report Segments Global Automotive Turbocharger Market -
By Vehicle Type
By Fuel Type
Middle East & Africa
Players Profiled In The Report:
BorgWarner Inc, BOSCH Mahle Turbo Systems, Continental AG, Cummins Inc., Eaton Corporation PLC, Honeywell International Inc., IHI Corporation, Mitsubishi Heavy Industries Ltd, Rotomaster International, and Turbo Energy PVT Ltd.
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